Founded as an online retailer, it opened its first bricks and mortar store in the City of London’s Royal Exchange in 2012.

The company, which employs 42 people, plans to open two more stores over the next year, with an additional London store and one in central England.

Founder and director Lloyd Amsdon said: “The finance has given WatchFinder the capacity to double its stock, widening the brands appeal and satisfying the ever growing customer database.

Watchfinder & Co's flagship store in London

“With 12,000 visitors to WatchFinder.co.uk every day, and an average of 750 watches sold a month, keeping up supply for the demand is curial to the business’ continued growth.

He added: “HSBC’s funding will also permit us to better our customer experience.

“A WatchFinder customer that shops with us both in-store and online spends double the time as he would with a single-channel shopper and as an increasing amount of retail transactions are influenced by the digital experience WatchFinder will aim to further enhance this.

Over the next few months, WatchFinder will see higher levels of engagement, increased conversion rates and most importantly higher scoring customer satisfaction levels.”